Fri.Apr 12, 2024

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Don’t waste another minute on manual accounting

Accounting Seed

The post Don’t waste another minute on manual accounting appeared first on Accounting Seed.

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Tax Debt Relief: What You Need to Know When You Owe the IRS

MyIRSRelief

Tax debt can be a significant burden, causing stress and financial strain for many individuals. However, there are several avenues for tax relief available to those who owe the IRS. This comprehensive guide will explore the options for obtaining tax relief, aiming to provide clarity and hope to those grappling with tax debt concerns. Get professional representation today!

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Trending Sources

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On the move: Sax hires first CIO

Accounting Today

CohnReznick launches new digital advisory practice; Kruze Consulting and KPMG separately release CEO reports; and more news from across the profession.

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Withum Soars on Vault Top Accounting Firm

Withum

Withum Soars on Vault Top Accounting Firm List Vault named Withum #17 on their annual top 25 accounting list. Known for its influential ranking, Vault recognized Withum for their outstanding training programs, benefits and compensation. Over the years, the Vault survey has consistently shown that Withum Team Members accept positions and remain at the Firm for the unbeatable culture and outstanding colleagues.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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We Forgot to Mention Deloitte Got in Trouble For Cheating This Week, Too

Going Concern

In a renewed effort to appear to be doing something of value, the PCAOB was busy this week handing down hand slaps and fines for the crime of sharing answers on internal training. We were a bit too focused on KPMG Netherlands receiving the biggest fine the PCAOB has ever given out ($25 million) to mention that Deloitte Philippines and Deloitte Indonesia had fines of their own announced the same day.

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Retail Sales and Wages Grew in March

CPA Practice

Retail sales grew at a steady pace in March, according to the CNBC/NRF Retail Monitor , powered by Affinity Solutions, released today by the National Retail Federation. “As inflation for goods levels off, March’s data demonstrates steady spending by value-focused consumers who continue to benefit from a strong labor market and real wage gains,” NRF President and CEO Matthew Shay said.

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RightTool Wins 2024 Accountant Bracket Challenge

CPA Practice

QuickBooks automation tool RightTool is the champion of the 2024 Accountant Bracket Challenge, presented by Accounting High, as the 3 seed defeated 1 seed CPA Jason Staats, host of the Jason Daily podcast, by a score of 355 votes to 110 votes in the final. “To everybody in the RightTool Facebook community and all the RightTool users, all of you came together and helped us get the most votes, so I wanted to thank you guys for being the best community in the industry, in my opinion,” said Hector G

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Tech news: CohnReznick launches digital advisory practice

Accounting Today

Plus, DataSnipper releases new suites for cloud collaboration, data extraction; and other accounting tech updates.

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Practical Tips To Improve Your Construction Marketing Strategy

Randal DeHart

Stepping up your marketing game as a construction business owner is always a welcome topic in my client conversations. Often, a contractor will chat with me about the best way to promote their company, primarily because there is no one but him running it. You may focus more on accounting and taxes at times, and at other times, your business may slow down, and sales become more challenging.

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IRS prepares for flood of last-minute returns

Accounting Today

The Internal Revenue Service is getting ready for an onslaught of tax returns arriving by Tax Day on Monday, though many taxpayers will be eligible for automatic extensions due to natural disasters across the country.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Shohei Ohtani’s Ex-Interpreter Charged With Bank Fraud, Stole $16 Million From Baseball Star

CPA Practice

By Tony Saavedra, San Gabriel Valley Tribune, West Covina, Calif. (TNS) Baseball superstar Shohei Ohtani’s former interpreter has been charged with stealing more than $16 million from Ohtani’s bank account to pay the translator’s illegal gambling debts, federal authorities announced Thursday, April 11. Ippei Mizuhara, who was fired by Ohtani’s current team, the Los Angeles Dodgers, is charged with a single count of bank fraud, carrying a possible federal prison sentence of up to 30 years.

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Lights, camera, taxation! Accountants on screen

Accounting Today

Some of our favorite CPAs of the silver and small screen.

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Economic Indicators as Predictive Benchmarks

Withum

The economy is in an enigmatic situation with stubborn inflation above the Fed’s targets, pretty much full employment, high interest rates with an inverted yield curve, stagnant home sales and many other real, perceived or anticipated problems. The truth is that no one knows what will happen. Yet, every economist, financial commentator, and journalist has an opinion.

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New 2023 K-1 instructions stir the CAMT pot for partnerships and corporations

Accounting Today

The IRS threw a late curveball at tax professionals scrambling to meet the April 15 deadline.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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How to address common cloud migration fears: nine critical steps

Accounting Insight

Concerns about data security, regulatory compliance and potential disruptions during the migration process shouldn’t prevent a move to the cloud. For most accounting practices, the move to cloud-based solutions is increasingly looking inevitable. As the tax landscape becomes more digitised, advisors are acutely aware of the need to leverage technology to maintain a competitive edge and stay relevant in the market.

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The path to profitability: Upsell to advisory

Accounting Today

Use your expertise and knowledge to help guide your clients to create growing and more profitable businesses.

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Technology Sector Challenges

Menzies

Menzies LLP - A leading chartered accountancy firm. INVESTING IN INNOVATION The UK is the fourth most innovative country in the world, according to the latest Global Innovation Index, and the Government’s Industrial Strategy is aiming to increase spending on R&D by 2.4% by 2027. For technology businesses, it is important to take advantage of Government-backed networks and programmes whilst developing a strategic plan and practising strong working capital management.

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Ohtani's translator charged with stealing $16M for 19,000 bets

Accounting Today

The alleged bookmaker is under criminal investigation by the IRS as well.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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TRANSPORT & LOGISTICS SECTOR CHALLENGES

Menzies

Menzies LLP - A leading chartered accountancy firm. ENVIRONMENT Air quality legislation has led to the introduction of Clean Air Zones and Ultra Clean Air Zones in towns and cities across the UK. For road hauliers and freight forwarders, the restrictions imposed are increasing costs and putting further pressure on operating margins and cash flow. Business owners in the sector should harness data and manage cash flow carefully.

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Tesla to Launch RoboTaxi on August 8

CPA Practice

Dana Hull Bloomberg News (TNS) Tesla Inc. plans to unveil its long-promised robotaxi later this year as the electric carmaker struggles with weak sales and competition from cheap Chinese EVs. Chief Executive Officer Elon Musk posted Friday on X, his social media site, that Tesla’s robotaxi will be unveiled on Aug. 8. Shares gained as much as 5.1% in postmarket trading in New York.

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RETAIL & WHOLESALE SECTOR CHALLENGES

Menzies

Menzies LLP - A leading chartered accountancy firm. These are tumultuous times for the UK’s retail sector. A shift in consumer spending habits and the rapid growth of online shopping platforms, alongside a cost-of-living crisis, has reduced footfall on the high street and placed increased pressure on the operating margins of many retailers. Despite this, UK retail sales have topped £500 billion recently, and businesses in the sector are striving to differentiate their offerings through pro

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GST/HST and QST Considerations For New Business Owners

Ronika Khanna CPA,CA

Table of Contents What is GST/HST? The Goods and Services Tax/Harmonized Sales Tax or GST/HST is a consumption tax that is charged on most goods and services sold within Canada, regardless of where your business is located. Subject to certain exceptions, all businesses are required to charge GST and HST , generally depending on the province in which they are located.

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Harness the Potential of Your Enterprise Knowledge

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

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PROPERTY & CONSTRUCTION SECTOR CHALLENGES

Menzies

Menzies LLP - A leading chartered accountancy firm. The property and construction sector has experienced real challenges of late. Growth has been subdued, with issues of housing supply, scarcity of affordable land, tax changes, and planning approvals remaining a problem. OVERSEAS INVESTORS Some of the biggest tax changes in recent years have impacted overseas investors of UK property bringing them into the UK tax regime for the first time.

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MANUFACTURING SECTOR CHALLENGES

Menzies

Menzies LLP - A leading chartered accountancy firm. TECHNOLOGY Manufacturers need to utilise the latest technology to stay relevant, innovative and competitive. Their biggest challenge is how best to use technology to achieve operational goals such as reducing costs, improving quality, productivity and safety whilst pushing product innovation. Without investment in automation and other digital technologies, they risk losing market share to competitors.

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HOSPITALITY & LEISURE SECTOR CHALLENGES

Menzies

Menzies LLP - A leading chartered accountancy firm. Hospitality & Leisure has arguably been the most severely hit sector over the last few years, and although the sector is showing signs of recovery, trading conditions remain challenging with high costs and ongoing labour shortages. Rising living costs are impacting consumer choices, as is an emphasis on sustainability, which is proving crucial for attracting consumers and employees alike.

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FINANCIAL SERVICES KEY CHALLENGES

Menzies

Menzies LLP - A leading chartered accountancy firm. EMBRACING SUSTAINABILITY The call for sustainability is echoing louder across industries, including financial services. With increasing environmental concerns and societal expectations, businesses are under pressure to integrate sustainability into their operations and investment strategies. We assist our clients in incorporating sustainable practices, enabling them to not only meet regulatory obligations but also contribute positively to the p

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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ECOMMERCE KEY CHALLENGES

Menzies

Menzies LLP - A leading chartered accountancy firm. In the ever-evolving landscape of ecommerce, the sector continues its upward trajectory, with global online sales consistently on the rise. The COVID-19 pandemic accelerated the shift to online shopping, and this trend has persisted post-pandemic, indicating a fundamental change in consumer behaviour.

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CHARITIES & NOT FOR PROFIT KEY CHALLENGES

Menzies

Menzies LLP - A leading chartered accountancy firm. STRATEGIC REVIEW With the increased pressure on funding and the Charity Commission’s continued focus on public benefit, charities must be clear in their objectives and provide demonstrable and objective outcomes to their stakeholders. We independently review how well an organisation reports on its performance against objectives, helping ensure the content of their Annual Report cover the necessary reporting requirements and suggesting improveme